Systems And Methods Relating To Credit

ABSTRACT

The present invention includes an electronic platform where business credit can be created, affiliated, transmitted, redeemed and processed, etc. in connection with multiple redeemers. The present invention includes an electronic platform where business credit can be purchased, sold and/or gifted in connection with multiple redeemers. The present invention also includes an electronic platform where business credit can be accounted for, monitored, and organized, etc. Furthermore, the present invention provides the ability to redeem business credit (including store credit) in connection with multiple redemptions through multiple redeemers, via a single redemption apparatus (e.g., a smart card).

CROSS-REFERENCE TO RELATED APPLICATIONS

The present application claims the benefit of priority to U.S.Provisional Patent Application No. 61/443,945, filed Feb. 17, 2011, andU.S. Provisional Patent Application No. 61/513,482, filed Jul. 29, 2011,the entire contents of both of which are incorporated herein byreference.

BACKGROUND OF THE INVENTION

1. Field of the Invention

The present invention relates generally to the field of commerce. Morespecifically, the present invention comprises systems and methodsrelating to credit.

2. Related Art

Credit has been provided by businesses for generations. For example,merchants provided store credit using a paper voucher; these were givento customers who returned product, in lieu of a cash refund. Giftcertificates were brought to the mass market by big department stores inthe mid-1930s. The gift card is a descendant of the paper giftcertificate, and gained popularity in the 1990's. Traditionally, suchcredit is paid for on a dollar for dollar basis upon its initialissuance (its purchase price equals the monetary amount connected withits full redemption).

REFERENCE GUIDE

The following terms as used herein and with respect to embodiments ofthe present invention include (but may not be limited to) the followingdescriptions:

-   Redeemers: The term “redeemers” refers to persons or entities that    accept credit as a method of payment.-   Purchasers: The term “purchasers” refers to persons or entities that    pay or promise to pay for credit and/or credit services.-   Presenters: The term “presenters” refers to persons or entities that    present credit (to redeemers) in connection with making a payment.-   Terms: The word “terms” as used herein, may also encompass    “conditions”.-   Goods and/or Services (Products): The terms “goods and/or services”    and “products” have the same meaning and are used interchangeably    herein.-   and/or: The term “and/or” as used herein, and with respect to    embodiments of the present invention, is used to indicate that one    or more of the stated cases may occur. For example, the sentence “He    will have cake, pie, and/or brownies” indicates that although the    person may have any of the three listed desserts, the choices are    not exclusive; the person may have one, two, or all three of the    choices.

SUMMARY OF THE INVENTION

The present invention encompasses systems and methods of paymentutilizing credit. The present invention includes systems and methods ofcreating credit with specific features; such credit can be defined andcategorized based upon these features. The term “business credit” isused in a general sense within this document to encompass universalcredit, targeted credit, and token credit. The term “store credit” asused herein, refers to credit that is affiliated with a single redeemerfor use in connection with all of the redeemer's products (e.g., atraditional gift card provided by a retail store). The present inventionencompasses systems and methods pertaining to business credit (asreferenced above). Provided herein are additional types of credit andsystems and methods associated with the creation and utilization ofsuch. The first, universal credit, refers to credit that is affiliatedwith one or more particular redeemers (e.g., specifically identifiedutilizing the redeemer's EIN) within a credit system, enabling universalcredit to be affiliated or, redeemed in connection with these particularredeemers, while excluding other redeemers (within the same creditsystem) from being able to redeem the same. Universal credit encompassesall the benefits and characteristics of store credit as well asadditional benefits and characteristics (e.g., universal credit can beaffiliated with more than one redeemer, or affiliated with a particularpresenter). An additional credit type, targeted credit, refers to creditthat is exclusively redeemable in connection with purchases ofparticular (e.g., specifically identified by UPC) products. Lastly,token credit refers to credit that is redeemable as full payment inexclusive connection with the purchase of a particular product (e.g.,specifically identified by UPC), regardless of the price of the product.

The present invention includes an electronic platform where businesscredit can be created, affiliated, transmitted, redeemed and processed,etc. in connection with multiple redeemers. The present inventionincludes an electronic platform where business credit can be purchased,sold and/or gifted in connection with multiple redeemers. The presentinvention also includes an electronic platform where business credit canbe accounted for, monitored, and organized, etc. Furthermore, thepresent invention provides the ability to redeem business credit(including store credit) in connection with multiple redemptions throughmultiple redeemers, via a single redemption apparatus (e.g., a smartcard).

The present invention includes systems and/or methods where businesscredit can be created, affiliated, transmitted, redeemed and/orprocessed, etc., in connection with particular redeemers (e.g.,specifically identified via their Employer Identification Number) withina credit system incorporating multiple redeemers. The present inventionincludes systems and methods where products (e.g., sharing the same UPC)can be segregated and grouped and credit can be created, affiliated,transmitted, redeemed and/or processed, etc., exclusively in connectionwith one or more of the aforementioned products. The present inventionalso includes systems and methods where a particular good or service canbe segregated (e.g., utilizing its UPC) and credit can be created,affiliated, transmitted, redeemed and/or processed exclusively inconnection with the particular good or service, regardless of askingprice, providing a purchaser with the ability to purchase such creditwithout need for concern with regard to the price. The present inventionalso incorporates systems and methods where business credit can bepurchased in connection with two separate payments, providing benefitsto various parties. The present invention provides systems and methodswhere business credit can be affiliated with authorized presenters,providing security to the same.

The present invention incorporates use of a computer system (operated bya system provider) that includes at least one processing server. Parties(e.g., a purchaser, a redeemer and/or a system provider) utilizing thepresent invention could communicate with one another using theircomputer systems and communication links, via a network (e.g., theInternet).

The present invention includes systems and methods where existing orproposed business credit can be bought and sold via an electronicexchange or marketplace. The present invention provides a platform(e.g., a website and associated hardware and software, etc.) wherepurchasers can customize or specify multiple terms associated withbusiness credit and offers therefor (e.g., the price to be paid forbusiness credit, the monetary value associated with its full redemption,its affiliated redeemers, etc.).

The systems described herein, include a platform where terms associatedwith payments to redeemers for credit redemptions, can be specified byredeemers. For example, a platform can be provided where a redeemer candetermine the monetary amount it will be paid for a credit redemptionverses the monetary amount it redeems (“the payment/redemption rate”).The present invention provides systems and methods where parties (e.g.,redeemers) can promote all their products, a group of particularproducts, specific products and/or raise cash, via the utilization ofbusiness credit.

Using systems and methods described herein, terms associated withbusiness credit and offers therefor, can be customized by a purchaserwhere the monetary cost (or purchase price) of business credit is lessthan or equal to its redemption value. For example, a purchaser couldoffer to pay $170 for a proposed universal credit that provides a $200redemption value. The present invention also entails systems and methodswhere multiple parties (e.g., a vendor and a redeemer) can jointlypromote the selling of business credit, as well as any productsassociated with such.

BRIEF DESCRIPTION OF THE DRAWINGS

The foregoing features of the invention will be apparent from thefollowing Detailed Description of the Invention, taken in connectionwith the accompanying FIGS. in which:

FIG. 1A is a diagram showing an example of an embodiment of the system,wherein business credit is purchased through (or from) a systemprovider;

FIG. 1B is a sample web-page provided by a system provider (e.g., afictitious company named “Gravy”), illustrating how a redeemer (e.g., anational hardware chain) could specify a payment/redemption rate;

FIGS. 1C, 1D, 1E, and 1F illustrate sample web-pages which could be usedto purchase business credit;

FIG. 1G illustrates a sample web-page displaying a business creditaccount (universal);

FIG. 1H is a flowchart showing processing steps carried out and depictedin FIG. 1A;

FIG. 2A is a diagram showing an example of an embodiment of the system,wherein business credit is gifted;

FIG. 2B is a sample web-page illustrating how a purchaser can providecontact information associated with a gift recipient;

FIG. 2C is a sample email transmission from a system provider to a giftrecipient;

FIG. 2D is a sample e-mail transmission from a system provider to a giftrecipient (not recognized by the system as having an account);

FIG. 3A is diagram showing an example of another embodiment of thesystem, wherein targeted credit is utilized in connection with apurchase of a particular product brand;

FIG. 3B illustrates a sample web-page that could be used to place anorder for business credit;

FIG. 3C is a sample web-page illustrating another type of businesscredit account (targeted);

FIG. 4A is a diagram showing an example of another embodiment of thesystem wherein a method for joint promotion is provided and token creditis utilized;

FIG. 4B is a sample web-page where terms associated with payments forredemptions of business credit can be specified by a redeemer;

FIG. 4C is a sample web-page illustrating how a vendor could provideincentive to a purchaser of business credit;

FIG. 4D is a sample web-page illustrating how a parts supplier couldcontribute to a promotion regarding the sale of business credit;

FIG. 4E illustrates a sample web-page where offers to purchase tokencredit can be made;

FIG. 4F is a sample web-page illustrating another type of businesscredit account (token);

FIG. 5A is a diagram showing an example of another embodiment of thesystem wherein a double payment method is utilized and a facilitator isinvolved;

FIG. 5B is a sample web-page illustrating how an offer to purchase anoption could be presented;

FIG. 5C is a sample web-page depicting an options account;

FIG. 5D is a sample web-page depicting an account history;

FIG. 6 is a diagram showing an example of another embodiment of thesystem wherein business credit is provided in connection with fixedmonthly expenses and/or commitments;

FIG. 7 is a diagram showing sample components which can be used toimplement the present invention; and

FIG. 8 is a diagram showing sample components of a processing server(depicted in FIG. 7) in greater detail.

DETAILED DESCRIPTION OF THE INVENTION

The present invention encompasses systems and methods of paymentutilizing credit. The term “business credit” is used in a general sensewithin this document to encompass universal credit, targeted credit, andtoken credit. The term “store credit” as used herein, refers to creditthat is affiliated with a single redeemer and in connection with all ofthe redeemer's products. The present invention includes systems andmethods of creating credit with specific features; such credit can bedefined and categorized based upon these features. The present inventionencompasses systems and methods associated with business credit (asreferenced above). Provided herein are additional types of credit andsystems and methods associated with the creation and utilization ofsuch. As previously mentioned, universal credit refers to credit that isaffiliated or redeemable, with one or more particular redeemers (e.g.,specifically identified via the utilization of EINs), within a creditsystem, while excluding other redeemers within the same credit system(e.g., from being able to redeem the same). Like store credit, universalcredit is redeemable in connection with any good and/or service offeredfor sale by an affiliated redeemer. However, universal credit can beutilized in ways that store credit cannot (e.g., universal credit can beaffiliated with more than one redeemer, or affiliated with an authorizedpresenter), thus, universal credit encompasses store credit. Universalcredit can also be redeemed in connection with monies owed for offbalance sheet financing (e.g., rent, etc.), as depicted in FIG. 6.Additionally, targeted credit, refers to credit that is exclusivelyredeemable in connection with purchases of particular products (e.g.,specifically identified via UPC). Lastly, token credit refers to creditthat is exclusively redeemable (as full payment) in connection with apurchase of a particular product (e.g., specifically identified viaUPC), regardless of the asking price (of the product). Universal creditand targeted credit can be redeemed piecemeal, where for example, themonetary amount paid to a redeemer (for a redemption), can be providedin the same proportion of the previously accepted and/or approvedpayment/redemption ratio.

As previously mentioned, business credit is affiliated with particularredeemers (e.g., specifically identified) within a credit system (e.g.,a credit system incorporating multiple redeemers). Such redeemers can beidentified by name, MN, other numbers and/or identifying codes, or otherknown usable means of identification (e.g., a particular vendor'sauthorized dealers who use the system). The present invention includessystems and methods where business credit is affiliated with authorizedpresenters and identification could be required when presenting the samefor redemption (providing protection against theft and/or fraud).Additionally, the present invention provides means where parties canelectronically transfer (e.g., sell or gift) business credit to anotherparty. Business credit can be provided by various parties via thepresent invention, for example, a system provider can sell businesscredit directly to a purchaser, or provide systems that enable otherparties such as a vendor or a redeemer to sell such credit. The termbusiness credit as used herein can refer to (perhaps depending upon thecontext of the usage) proposed (or potential) business credit, as wellas existing business credit in which terms have been established.Furthermore, business credit can be affiliated with a redeemer where theredeemer pays for the affiliation, doesn't pay for the affiliation, ormay even be paid for the affiliation. Additionally, a system providermay approve payment/redemption rates where the payment is less than theredemption, equal to the redemption, or ever more than the redemption.

The systems and/or methods described herein could be implementedbusiness to business and/or business to consumer. Furthermore, suchsystem and/or methods can be provided by one or more “system providers”.References to parties (e.g., a facilitator) herein, can includereference to the party's computer system.

The present invention incorporates use of a computer system (operated bya system provider) that includes at least one processing server. Partiesutilizing the present invention could communicate with one another usingtheir computer systems and communication links, via a network (e.g., theInternet). The present invention can be provided (via a website) whereoffers to buy and/or sell business credit could be communicated.

The word “terms” as used herein and with respect to embodiments of thepresent invention, can refer to the terms associated with a deal or anoffer. For example, a term could be the price a purchaser offers to payfor business credit. The word “terms” can also be used in connectionwith redemptions. (“redemption terms”). For example, a term could be themonetary amount to be paid (to a redeemer) for a redemption. The word“terms” can also refer to the terms associated with the business credititself (i.e., the terms related to the use of the business credit).

The present invention includes systems and methods where business credit(including store credit) can be affiliated with redeemers, who did notnecessarily create, establish terms for, and/or issue the same. Thepresent invention provides systems and methods where redeemers are paidin connection with business credit (including store credit), prior to,upon and/or after the redemption of the same.

The present invention can provide savings to presenters, as well assavings over and above other savings. For example, a “20% off” discountoffered (outside the system) may not be combinable with other offers,however, business credit can be purchased for a monetary amount that isless than its redemption value, thus the redemption of such can provideadditional savings. In essence, a presenter could save money utilizingthe discount, as well as save money in connection with the purchase andredemption of the business credit.

The present invention can be viewed or implemented in different ways.For example, a system provider could view the present invention as asystem that provides the market value (or market price) of businesscredit (where such credit is traded for money), as accepted by parties.Alternatively, the present invention could be viewed or implemented assystems or methods that can provide business credit at a lower monetaryamount than the amount associated with its full redemption.Additionally, the present invention could be viewed or implemented assystems or methods that provide business credit on a dollar for dollarbasis (where its price is equal to the monetary value connected with itsredemption) and where additional or bonus business credit can beprovided at a reduced rate or no additional cost. Laws, agreementsand/or contracts could dictate the implementation of the presentinvention.

The present invention provides systems and methods where redeemers candetermine the monetary amount they will be paid for credit redemptions.For example, a redeemer could specify a payment/redemption rate (themonetary amount paid [to a redeemer] for a redemption; in relation to[or verses] the monetary value being redeemed). The present inventionalso provides systems and methods where purchasers of business creditcan specify and submit both; the full redemption value (of the businesscredit), as well as a price the purchaser is willing to pay for it. Asis commonly done, contracts and/or formal agreements could be used toensure the functionality of the present invention and that aparticipating party's obligations are adhered to. For example, contractsand/or formal agreements could obligate a redeemer to honor businesscredit (e.g., provided by a vendor) as if it was created and/or issuedby the redeemer without use of the system. In fact, system providerscould require redeemers to honor such credit upon valid presentation,without exception.

A person or entity could use the systems and methods as various parties.For example, a bakery could use the systems and methods as a redeemer,in connection with a purchase of bread directly from the bakery. Thesame bakery could also use the system (as a vendor), where targetedcredit (targeted to the bakery's brand of bread) is utilized inconnection with purchases of the bakery's brand from a supermarket (theredeemer). Alternatively, the same bakery could use the system as apresenter, to purchase flower from a mill (the redeemer). Thus, the sameperson or entity could be one type of party in one transaction, andanother type of party in another transaction. Parties herein referencedby name (e.g., presenter, redeemer, etc.), are referenced as per theirrole within a particular transaction.

In the examples of the embodiments of the systems and methods depictedand described herein, there are numerous options and/or features thatare described in one embodiment which could also be provided inconnection with other embodiments, as would be understood by one havingordinary skill in the art. Furthermore, more than one method step,process, and/or transmission may be combined into one block (of adiagram). Moreover, while many of the figures show method steps,processes, and/or transmissions which are numbered in order, it shouldbe pointed out that the order in which they are performed may not be theonly order in which they can be effectively provided. Also of note, theexamples described throughout the figures and specification were writtenwith knowledge of the outcome, before the outcome is described, thus,for example, a purchaser of token credit may be identified and describedas “a presenter” at the time of the purchase. It is anticipated that alarge percentage of business credit purchased via the present invention,will not be presented for redemption by its purchaser.

Examples of embodiments of the present invention are discussed in detailbelow in connection with FIGS. 1-6. For illustrative purposes, suchexamples may include numerical and/or monetary amounts; this is notintended to limit the spirit or scope of the invention. Furthermore, inall of the embodiments described herein, there are numerous variationsand/or modifications that can be made without departing from the spiritand scope of the invention, and are intended to be included, as would beunderstood by one skilled in the art. Moreover, multiple variations canbe made regarding what different parties do, may be obligated to do,and/or are authorized to do, without departing from the spirit and scopeof the present invention.

The system providers depicted and described in connection with FIGS. 1-6may also provide banking services, and accounts held with the saidsystem providers may be charged and/or debited by the system provider,as is commonly done by banks. However, it is not required or necessarythat a system provider be a bank. As will be discussed, a systemprovider could comprise a processing server, web server, software, andhardware, etc. for facilitating the systems and methods provided herein(e.g., as described in connection with FIGS. 7 and 8).

FIG. 1A is a diagram showing an example of one embodiment of the presentinvention, indicated generally at 10. As commonly provided, in order touse the system described herein, parties may be required to enter formalagreements (regarding use and obligations of the system, etc.). Asdepicted in block 18, a platform is provided where payments (e.g., forredemptions) to a redeemer 12, can be specified by the redeemer 12. Asper this example the redeemer 12 authorizes the system provider 14 andagrees to accept 88 cents for every dollar it redeems in associationwith the affiliated credit. Of note, payments to redeemers do notnecessarily have to be in connection with the redemption of credit, forexample, a payment can be made to a redeemer in connection with theissuance of a business credit. FIG. 1B is a sample web-page that furtherillustrates this platform, here a redeemer (a multi-national hardwarechain) can specify a desired payment/redemption ratio in connection withredemptions of universal credit. Such specification can remain valid fora specified period, or, be terminated or modified at the redeemer'sdiscretion.

Furthermore, the present invention could provide a platform that enablessystem providers to specify acceptable circumstances and/or parameters,which could be processed in conjunction with data provided by otherparties (e.g., redeemers or purchasers) to determine whether or notoffers are approved. Such circumstances and/or parameters could includeacceptable margins or spreads, whether or not incentives are offered,etc. Interestingly, a system provider might approve a transaction wherethe purchase price for business credit is less than the monetary amountto be paid to an affiliated redeemer in connection with a fullredemption of the affiliated business credit. In such instances, thesystem provider may hope to profit by retaining unredeemed and expiredbusiness credit, or by other means.

As indicated by block 20, a platform can be provided where multipleterms associated with universal credit can be specified, and whereoffers for the same can be submitted by a purchaser (e.g., presenter16). Terms can include; which redeemers are affiliated with theuniversal credit, the redemption value associated with the same (e.g.,$100), as well as the price the purchaser (e.g., presenter 16) iswilling to pay for it (e.g., $90, etc.). FIG. 1C is a sample web-pageillustrating how an offer for universal credit could be specified andsubmitted. As further described in block 20 (and FIG. 1C), the presenter16, offers to pay $90 for a $100 universal credit. Upon processing this,as well as data provided by the redeemer 12 (e.g., thepayment/redemption ratio) and the system provider 14 (e.g.,pre-programmed parameters), notification of acceptance (or rejection)can be communicated to the offering party (e.g., presenter 16), furtherillustrated by FIG. 1D. Furthermore, a system provider could requirethat, for example, before business credit is issued, payment (or apromise to pay) for the same is provided by a declared date and/or time(a payment deadline).

As illustrated by FIG. 1E, payments can be made by purchasers utilizinga variety of methods. Such methods include, but are not limited to;cash, credit card, debit card, account transfer, check, ACH, wire,digital cash, etc. Purchasers can place orders and send paymentcontemporaneously using electronic payment services (e.g., an automatedclearinghouse) provided within, or in conjunction with the system.Optionally, a reviewable template of agreed upon terms could be providedto parties prior to final acceptance (e.g., placing an order), asillustrated by FIG. 1F.

As per block 22, the presenter 16 places an electronic order foruniversal credit, and a $90 payment is provided to, or through thesystem provider 14. As depicted in block 24 and FIG. 1G, a universalcredit is issued (e.g., electronically applied) to an account affiliatedwith the presenter 16 and held with the system provider 14.

Business credit accounts could be controlled by various parties andfunds held in such accounts could belong to various parties (dependingupon how the present invention is being implemented). Furthermore suchaccounts could be set up as escrow accounts. As business credit isissued (e.g., applied to an account affiliated with a purchaser),notification of such can be instantly sent to the affiliated parties(e.g., redeemers, etc.).

Payment processing systems and apparatus (currently in use) can bemodified and/or utilized in conjunction with the present invention.Apparatus such as a plastic card incorporating readable media or asmartphone application could be utilized in connection with redemptions,as is commonly done, or electronic transmissions can be sent (e.g., for“online” transactions). Such cards, electronic devices, or other meansof storing and/or presenting data could be used in connection withmultiple transactions and multiple redeemers. For example, one cardcould be utilized in connection with multiple transactions and multipleredeemers. As is commonly done, authorization (e.g., from a systemprovider) may be required during the redemption process.

As shown in block 26 in FIG. 1A, the universal credit is redeemed inconnection with a purchase of $100 worth of goods and/or services fromthe redeemer 12. Data associated with the redemption can be transmittedfrom the redeemer 12 to the system provider 14 via a network (e.g., theInternet), as indicated by block 28. As per block 30, an $88 payment issent from the system provider 14, to the redeemer 12. As per thisexample, the redeemer 12 has received $88 in revenue, the systemprovider 14 has collected $2, and the presenter 16 has saved $10.

Indicated generally at 40, FIG. 1H is a flowchart showing processingsteps carried out via the system and depicted in FIG. 1A. In step 42, aredeemer is provided with a platform where it can specify and transmit adesired payment/redemption rate (and does so). In step 44, a platform isprovided to a purchaser/presenter and utilized to specify and transmitmultiple terms associated with universal credit and offers therefore.Upon processing data provided by the redeemer and the presenter, as wellas data (e.g., acceptable pre-programmed parameters) provided by thesystem provider, the system provider notifies the presenter that itsoffer is accepted and approved, as described in step 46. In step 48, thepresenter sends a $90 payment for universal credit (with a $100redemption value) to, or through the system provider. As per step 50,the system provider electronically issues the universal credit to anaccount affiliated with the presenter. As indicated by step 52, theuniversal credit is redeemed in connection with a $100 purchase ofproduct from the redeemer. In step 54, data associated with theuniversal credit redemption is transmitted from the point of theredemption to the system provider. Finally, as indicated by step 56, thesystem provider sends $88 (as full payment for the redemption) to theredeemer (as previously authorized).

FIG. 2A is an example of an embodiment of the present invention wherebusiness credit is gifted, generally indicated by 70. Credit could besimilarly gifted in other embodiments of the present invention, as well.As per block 80, the redeemer 72 is provided with a platform where itcan specify a payment/redemption ratio. As per the example, the redeemer72 has chosen to receive 88 cents as payment for every $1.00 ofuniversal credit redeemed. Such a platform could also be provided, forexample, where the payment amount specified is the minimum amount aredeemer agrees to accept, and where a system provider must tack on apre-agreed to percentage/fee, and any balance between the offered amountand the accepted and approved amount can be provided to the redeemer,split, deducted from the eventual purchase price, etc.

As referenced, a purchaser can utilize the present invention to purchasecredit as well as transfer (give or sell) and/or use the same. Not shownin FIG. 2A, a platform is provided where a purchaser 78 can specify andsubmit multiple terms associated with universal credit and offerstherefore. Also not shown, the purchaser 78 communicates such an offer(e.g., to pay $90 for a $100 universal credit), as well as notificationthat a resulting purchase would be a gift, to the system provider 74.Also not shown in FIG. 2A, upon processing the data (e.g., the desiredpayment/redemption rate) entered by the redeemer 72, the purchaser 78(e.g., the $90 offer), and pre-programmed parameters provided by thesystem provider 74, notice that its offer is accepted and/or approved istransmitted to the purchaser 78. Upon such notification, a platform canbe provided to a purchaser (e.g., purchaser 78) where the name ande-mail address of a gift recipient (e.g., presenter 76) can becommunicated (e.g., to the system provider 74), as further illustratedby FIG. 2B. As per block 82, a platform is provided where a $90 paymentcan be sent to (or through) the system provider 74.

As illustrated in FIG. 2C and further described in block 84, an e-mailis sent to the presenter 76, indicating that a universal credit has beenapplied to an account affiliated with the presenter 76. If the presenteris not affiliated with the system, an e-mail such as the one depicted inFIG. 2D could be sent. Thus the present invention provides a method foracquiring (e.g., registering) users.

As described in block 86, upon being notified of the gift, the presenter76 could redeem the universal credit in connection with a purchase (ormultiple purchases) with an affiliated redeemer 72. Of note, a systemprovider or a vendor could offer universal credit that can be redeemedvia multiple redeemers (e.g., a fast-food franchise [a vendor] mightoffer universal credit where the affiliated redeemers are itsfranchisees). Not shown in the diagram, upon a redemption, associateddata can be transmitted from redeemers to system providers (and otherparties) and the account affiliated with the authorized presenter can beautomatically updated, in connection with the redemption. Finally, asper block 88, the system provider 74 sends an $88 payment to theredeemer 72.

As mentioned above, targeted credit is redeemable in connection withparticular products (e.g., products sharing the same UPC). Embodimentsof the present invention enable various parties (e.g., vendors) toprovide targeted credit. Targeted credit could be bought, sold, gifted,won, inherited and/or provided in any conceivable way (e.g., offered forsale in a retail store).

Universal Product Codes (UPC), Stock keeping Units (SKU), or othersuitable manners of identification can be utilized to create, redeemand/or process, etc., targeted credit. Targeted credit can also beaffiliated with particular redeemers (e.g., utilizing EmployerIdentification Numbers). Coded readable media (e.g., bar codes) and codereading devices (e.g., laser scanners) could be utilized in identifyingproducts affiliated with targeted credit.

The term “vendor” as used herein, refers to persons or entities whosupply redeemers with products (e.g., wholesalers, distributers,manufacturers, etc.). Targeted credit could be purchased at a price thatis less than the full redemption value of the targeted credit, providingobvious benefits to purchasers and enabling other parties (e.g.,vendors) with systems and methods to promote their products. Targetedcredit could be provided on a dollar for dollar basis. Targeted creditcan be affiliated with a vendor's products at a shared cost, or perhapsno cost to the affiliated vendor, providing benefits to such vendors.Targeted credit could be affiliated, for example, with goods that arediscontinued or overstocked, or services that traditionally providelarger profit margins, providing obvious benefit to both vendors andredeemers.

FIG. 3A is a diagram showing an example of a system and method forproviding targeted credit, indicated generally by 100. Not shown in thediagram, a redeemer 102 is provided with a platform where it can specifypayment/redemption rates, and as per this example, chooses to be paid100 cents on the dollar for redemptions. As described in block 110, avendor 108 is provided with a platform where it can provide incentive(promoting the sale of credit exclusively targeted to the same vendor'sproducts) by authorizing as per this example, a system provider 104 tocharge or debit a monetary amount (e.g., a monetary amount equaling 10%of the monetary amount being redeemed) from a traditional bank accountthe vendor 108 has with the system provider 104. Not shown in thediagram, an offer for targeted credit has been accepted and/or approvedfor purchase, and an order is placed. As described in block 112 andillustrated in FIG. 3B, the presenter 106 places an order and sends a$4,750 payment to (or through) the system provider 104 for a $5,000targeted credit (targeted towards products supplied by the vendor 108).As indicated in block 114, a $5,000 targeted credit is applied to anaccount affiliated with the presenter 106 (also see FIG. 3C). Asdescribed in block 116, the targeted credit is redeemed in connectionwith a purchase of specified products (e.g., identified by UPC) from theredeemer 102.

As expressed in block 118, data (e.g., identifying the redeemer 102, thetime of purchase, and the specific products purchased) is automaticallytransmitted to the system provider 104, from the point of theredemption. Such data can be forwarded to the vendor 108, as describedin block 120. As further described in block 120 (and as previouslyauthorized), a $500 incentive is debited (e.g., charged as a marketingfee) from a traditional bank account the vendor 108 keeps with thesystem provider 104. Such incentives could be directed to variousparties via various means and achieve the same end, as would beunderstood by one skilled in the art. For example, incentive could beprovided to purchaser/presenters in the form of coupons or rebates, orprovided as credit to a redeemer (applicable to a vendor's account withthe redeemer), or simply as additional funds to be considered by asystem provider. As indicated by block 122, a $5,000 payment is sentfrom the system provider 104 to the redeemer 102 (i.e., the redeemer'sbank account).

The present invention enables various parties to jointly promote thesale of business credit, as well as the sale of products the credit canredeemed in connection with. The present invention enables variousparties to be recognized for providing such incentive, or for variousreasons, choose not to receive such recognition. FIG. 4A is a diagramshowing an example of such an embodiment, generally indicated by 130,where token credit is utilized. As discussed above, token credit isredeemable in connection with a purchase of a specific product (e.g.,identified by UPC), regardless of the asking price (of the product). Asprovided in. FIG. 4A, a system provider 134, a presenter 136, a redeemer132, a vendor 138, and a parts supplier 140 are able to communicateutilizing computer systems and communication links via a network.

As illustrated by FIGS. 4B, 4C, and 4D (sample web-pages), a platformcan be provided where various parties can promote the selling of tokencredit, as well as the affiliated product. FIG. 4B illustrates a sampleweb-page where a redeemer (an international retail chain) can specify amonetary amount (e.g., $160) that it agrees to accept as payment inconnection with token credit redemptions (affiliated with a specificvideo game console). In FIG. 4C, a vendor is provided with a platformwhere it can further promote the selling of such token credit, byauthorizing $20 to be charged from a bank account it keeps with thesystem provider, for every token credit (affiliated with the video gameconsole) that is purchased and redeemed as specified. Furthermore, aspreviously mentioned, parties can be provided with a platform where theycan communicate with one another, and as per this example (but notdepicted within the figures), a parts supplier is contacted and asked bythe vendor to further contribute to the promotion. As depicted in FIG.4D, the parts supplier authorizes $5 to be charged from a bank accountthat it keeps with the system provider, for every token credit(affiliated with the video game console) to the promotion, in connectionwith valid purchases and redemptions of the token credit.

As described in block 142 and depicted in FIG. 4E, the presenter 136submits a $150 offer to the system provider 134 for token creditaffiliated with the video game console (utilizing the UPC). Asdesignated by block 144, the system provider 134, via its processingserver, can electronically search (e.g., a database) to identifyredeemers who will redeem the token credit for the least amount ofmoney. As provided by this example, the system provider 134 determinesthe $160 entry by redeemer 132 to be the lowest. The system provider134, as depicted in block 146, can further electronically search (e.g.,a database) to see if the vendor 138 provides (or is willing to provide)additional incentive affiliated with the token credit. As furtherdepicted in block 146, the system provider 134 determines (via itsprocessing server) that the vendor 138 has authorized $20 charges (e.g.,in the form of a marketing fees) to be applied to a traditional bankaccount the vendor 138 has with the system provider 134 in connectionwith validly purchased and redeemed token credit (affiliated with thevideo game console).

As shown in block 148, the system provider 134 (via a processing server)searches to see if additional parties are providing similar incentive inconnection with such token credit. In this regard, the system provider134 identifies that a parts supplier 140 (who supplies microchips to thevendor 138 for the video game console) has authorized $5 charges (e.g.,for marketing fees) to be applied to a traditional account the partssupplier 140 keeps with the system provider 134, in connection withvalid redemptions of the aforementioned token credit. Upon processingthe funds it can take in versus the funds it would have to pay, as wellas pre-programmed parameters entered by the system provider 134, noticeindicating acceptance and/or approval, of the presenter's offer can becommunicated to the presenter 136 (as well as various other parties),and can be immediately binding.

Also not shown in FIG. 4A, the system provider 134 charges $150 (aspreviously authorized) to a traditional bank account affiliated with thepresenter 136 as payment for the token credit (other methods of paymentcould also be used). As described in block 150 (and further illustratedin FIG. 4F), the system provider 134 can apply the token credit to anaccount affiliated with the presenter 136. Universal credit, targetedcredit and, token credit could be applied to a single account, or toseparate accounts (as depicted in the figures).

Using a mobile phone application (provided by the system provider 134)as a redemption apparatus, the token credit is redeemed in connectionwith a purchase of the video game console from the redeemer 132, asdesignated by block 152. As indicated by block 154, data associated withthe token credit redemption is transmitted to the system provider 134from the point of the redemption. As designated by block 156, the systemprovider 134 transmits data verifying the valid token credit redemptionto the vendor 138 and $20 is charged (e.g., as a service fee) to atraditional bank account the vendor 138 keeps with the system provider134. Confirmation of the valid token credit redemption is alsotransmitted to the parts supplier 140, and the system provider 134similarly debits $5 from a traditional bank account that it keeps forthe parts supplier 140. Finally, as indicated by block 158, the systemprovider 134 sends $160 to the redeemer 132, as payment for the tokencredit redemption. It is of note that the redeemer 132 collected $160 aspayment for the token credit redemption, yet the presenter 136 purchasedthe token credit for $150.

The present invention can also be implemented where payments forbusiness credit (including store credit) are made in two steps, atdifferent times (a “double payment method”). In this embodiment, aninitial payment is made to enable the payer to specify and/or secure(for a stated period of time) terms associated with business credit andoffers for the same, and an optional second payment is made (at adifferent time and perhaps by a different party) for obtaining thecredit. This method could be viewed or implemented in various ways. Forexample, the first payment could be viewed or implemented as a “downpayment” and the second as a final payment that completes thetransaction. Furthermore, the first payment could be viewed orimplemented as a service fee for securing terms, and the second aspayment solely for the business credit. Alternatively, the doublepayment method could be viewed and/or implemented where a first paymentis used to purchase an option that can be exercised within a statedperiod of time and enables the option holder to purchase the affiliatedcredit at a specified price, and where a second payment is made inconnection with the exercising of the option (i.e., acquiring theaffiliated credit). Agreements could insure that options are exercisedas provided.

Double payment methods could be used in conjunction with previouslydiscussed embodiments of the present invention as well. For example, apurchaser could customize multiple terms associated with token creditand offers therefore (where multiple parties provide incentive and/orcontribute to a promotion) and upon acceptance, a platform can beprovided where an option to extend the payment deadline affiliated withthe accepted offer could be purchased (see FIG. 5B).

FIG. 5A is a diagram showing an example of an embodiment of the presentinvention where a double payment method is utilized and a facilitator isinvolved, indicated generally at 170. The term “facilitator” as usedherein, refers to persons or entities (e.g., agents, independent salesrepresentatives, franchisees, referring parties, retail stores, [evengift givers], etc.) that are compensated for facilitating purchases ofbusiness credit and options thereof.

FIG. 5A illustrates an example of an embodiment of the system where afacilitator 178 initiates the sale of an option for universal credit. Asdescribed in block 180, a platform (e.g., a web-page, etc.) can beprovided where two payment/redemption ratios can be specified by aredeemer 172, a “standard” payment/redemption ratio (e.g., similar tothe one described in FIG. 1A), and a second payment/redemption ratio,where lower payments can be specified for redemptions of business credit(e.g., universal credit) in which facilitators played a role inproviding. Here, the payment/redemption rate used for a particularredemption can be dictated by whether or not a facilitator played arole, with regards to the purchase of business credit or optionstherefor. Indicated by block 182, a platform is provided where thefacilitator 178 and the system provider 174 agree to split (e.g., 50/50)the purchase price of options sold in which the facilitator 178 playedsuch a role. Of course, there are many ways a facilitator could becompensated within the scope of the present invention.

As described in block 184, a $100 payment, as well identificationinformation such as the presenter's name and e-mail address is providedto the facilitator 178. As per block 186, the facilitator 178 uses thesystem to place an order and provide payment (e.g., $50) on behalf ofthe presenter 176, as well as provide the previously mentionedidentification information to the system provider 174 (via theInternet). As described in block 188 and further depicted in FIG. 5C, anoption for a $1,000 universal credit is applied to an account affiliatedwith the presenter 176.

A second payment can be provided to a system provider, or as per whattranspires within this example, the redeemer 172. Here, the redeemer 172collects an $800 “exercise payment” (from the presenter 176) on behalfof the system provider 174, which can then be used as payment to theredeemer 172 for the future redemption of the universal credit (aspreviously agreed). A platform is provided to the redeemer 172 wherenotice (e.g., that the $800 exercise fee has been received) iscommunicated to the system provider 174. Upon processing thisinformation, a $1,000 universal credit can be instantly andautomatically applied to an account affiliated with presenter 176. Thepresent invention also provides systems and methods where businesscredit (including store credit) can be organized, monitored and/oraccounted for, as per FIG. 5D.

FIG. 6 is a diagram showing an example of an embodiment of the presentinvention, indicated generally at 200, where a system provider 204 paysa redeemer 202 (e.g., a landlord) in connection with the issuance ofbusiness credit, prior to the redemption of the business credit. Thisembodiment can be ideally used in association with monthly expensesand/or commitments (e.g., utilities, insurance, rent, equipment leases,off balance sheet financing, etc.). This embodiment can also be ideallyused by redeemers who offer payment terms (e.g., wholesalers,distributers and manufacturers, etc.).

As per this example, the redeemer 202 (e.g., a landlord) uses the systemto raise cash by selling or leveraging committed future revenue (e.g.,future rent roll). As described in block 208, the redeemer 202 isprovided with a platform where it can specify terms regarding universalcredit and offers therefore. Such terms may include a date in which theproposed universal credit must be redeemed (if an offer is accepted),the redemption value of the universal credit (that the redeemer 202agrees to honor), the monetary amount the redeemer 202 is to be paid inconnection with such redemptions, the dates such funds are to beprovided by, etc. As per this example, the redeemer 202 agrees to redeembetween $1,000,000 and $2,000,000 worth of universal credit (betweenJan. 1, 2015 and Dec. 31, 2017), if it is provided with funds equaling90% of the redemption value of the said universal credit before Nov. 30,2014.

Indicated in block 210, a platform is provided where communicationbetween the system provider 204 and a presenter 206 (e.g., a tenant ofthe redeemer 202) can transpire. As per this example, the systemprovider 204 offers universal credit to the presenter 206 (and othertenants of the landlord) at a price equaling 95% of the redemption valueof the universal credit (perhaps contingent upon a minimum amount offunds being provided to the redeemer 202 before Nov. 30, 2014). As perblock 212, the presenter 206 places an order for $1,000,000 worth ofuniversal credit and provides a $950,000 payment to the system provider204.

Furthermore, as per this example, the system provider 204, purchases anadditional $500,000 (redemption value) worth of the proposed universalcredit to resell (considering that universal credit derived from theredeemer's offer would not expire for another two years). Thus, asdescribed in block 214, the system provider 204 sends $1,350,000 to theredeemer 202 before Nov. 30 2014. As depicted in block 216, a $1,000,000universal credit is transmitted to an account affiliated with thepresenter 206.

As described in block 218, valid presentation of the $1,000,000universal credit is made by the presenter 206, via an electronictransmission through the Internet, and the universal credit is redeemed.As per block 220, proof of redemption can be transmitted to the systemprovider 204 and (not depicted) forwarded to the presenter 206.Furthermore, as indicated in block 222, the redeemer 202 can apply thecredited amount to the presenter's regular monthly statement (aspreviously agreed).

FIG. 7, indicated generally by 240, is a diagram showing samplecomponents that can be utilized to implement the present invention. Thecomponents depicted in FIG. 7 and discussed herein are not intended tolimit the spirit or scope of the present invention. The presentinvention can be implemented using a network 268, a first communicationlink between a redeemer computer system 260 and the system providercomputer system 250, a second communication link between the systemprovider computer system 250 and a purchaser computer system 266 couldenable similar communication. Such communication could encompass thesending and receiving of data, business credit and funds from party toparty. Other communication links between the system provider computersystem 250, a vendor computer system 274, a presenter computer system286, a facilitator computer system 288, or another party's computersystem 280 can be similarly utilized, via the network 268.

Examples of a network 268 could include; the Internet, an intranet, awide area network (WAN), a local area network (LAN), etc. The computersystems 260, 266, 274, 280, 286, and 288, for example, could each be anysuitable computer system having the ability to communicate via thenetwork 268 (e.g., having Internet connectivity), which may for example,be similar to the system provider computer system 250, or a personalcomputer, a laptop computer, a tablet computer, a smartphone, etc. Theservers 252 and 254 could include single or multiple processors (or asingle processor having multiple processor cores), and could include anysuitable operating system and associated system software, such as theUNIX operating system, Linux, Microsoft Windows, etc. Furthermore, thefunctions performed by the servers 252 and 254 could be provided by asingle computer system, or by multiple networked computer systems (e.g.,“cloud” or “grid” computing).

As depicted in FIG. 7, a system provider computer system 250 couldinclude a processing server 252, which could provide much of thefunctionality and processing described throughout the specification. Aweb server 254 can host a website that could be utilized as previouslydescribed, and a firewall 256 that can provide security for the servers252 and 254. It shall be understood that the method steps associatedwith the present invention could be performed, at least in part, viacomputer-executable instructions stored on computer-readable media.

Card readers and/or code reading scanning devices 262, etc., could alsobe utilized within, or in conjunction with the present invention, anddata interpreted and collected by them could be similarly communicatedvia the network 268 as would be understood by on skilled in the art.Other electronic means for conveying information such as, but notlimited to wireless digital transmissions, electronic cards (e-card),e-mail, text messaging (SMS), etc., could also be utilized within, or inconjunction with the present invention.

FIG. 8 is a diagram showing components of the processing provider 252depicted in FIG. 7, in greater detail. The server 252 could include astorage device 300, a network interface 304, a communications bus 306, acentral processing unit (e.g., incorporating a single or multiple-coremicroprocessor) 308, a random access memory (RAM) 310, etc. The storagedevice 300 could comprise any suitable computer-readable storage mediumsuch as disk, non-volatile memory (e.g., EPROM, EEPROM, a flash memory,etc.). Much of the functionality provided by the present invention couldbe provided by a processing software engine 302, which could be embodiedas computer-readable program code stored on the storage device 300 andexecuted by the CPU 308 using any suitable, high or low level computinglanguage, such as Java, C, C++, C#, .NET, etc. The network interface 304could include an Ethernet network interface device, a wireless networkinterface device, or any other suitable device which permits the systemprovider computer system 250 to communicate via a network 268.

As is commonly done, a system provider that also provides bankingservices or a bank that provides services in conjunction with the systemcan provide a credit line to qualifying persons or entities (e.g.,purchasers), allowing embodiments of the present invention to beimplemented as a pre-paid credit system and/or as a financed creditsystem (i.e., embodiments of the present invention can be utilized inconnection with pre-paid credit and/or financed credit). Within apre-paid system, the date credit is purchased, would be the date thepurchaser's credit line is drawn upon.

Alternatively, within a financed credit system, the date credit isredeemed, would be the date a credit line is drawn upon. In thisembodiment, the system could be implemented where, for example, thepayment/redemption rate provided by a redeemer on a given day, wouldapply to the very same day, and such a rate, in combination with thesystem providers pre-programmed parameters could be displayed byredeemers and publicized to authorized presenters as a daily“cost/redemption rate”. Also in this embodiment, there would be no needfor a presenter to pre-submit offers (or the acceptance of such), asterms associated with the credit are established.

A platform can be provided to a purchaser where options to borrowagainst such credit lines can be chosen. For the purpose of keeping theexamples provided within the diagrams and specification lesscomplicated, the business credit referenced within the examples isprepaid. It is of note that redeemers are currently paid for storecredit prior to the redemption of the same.

The present invention could also be implemented in the form of anauction, where business credit is sold to the highest bidder. Here, asystem provider can provide a platform where offers (or bids) can besubmitted for established business credit. These auctions could includereserves (minimum selling prices) from the selling party (e.g., avendor). Time limits could dictate the closing of the bidding processand could be communicated to parties. Data (e.g., the monetary amountbid) associated with this embodiment could be communicated as previouslydescribed (using communication links via a network).

Alternatively, the present invention could be implemented as systems ormethods that enable negotiation between parties. Here, a platform couldbe provided where parties could communicate offers to buy or sellbusiness credit (established or proposed), or request offers to buy orsell the same. Such offers could be accepted or rejected, or a means tocommunicate counteroffers could be provided. In brief, the presentinvention could be implemented as systems and methods for negotiatingterms relating to business credit, as well as systems and methods topropose and/or accept offers for the same.

The present invention includes methods and systems where multiple termsassociated with business credit could be proposed, and offers to buy (orsell) the same could be provided by various parties (e.g., purchasers,presenters, system providers, vendors, etc.). The present inventionincludes methods and systems where offers associated with businesscredit (established or proposed) could be communicated from party toparty. The present invention includes methods and systems wherepurchasers could propose both the redemption value of business credit,as well as the price they are willing to pay for it.

The present invention includes systems and methods where business creditcan be created, established, and/or initially issued by parties otherthan redeemers affiliated with the same. The present invention includessystems and methods where business credit can be electronicallytransferred from one party to another. The present invention includessystems and methods that can enhance features and benefits associatedwith store credit and may alleviate restrictions currently associatedwith store credit. The present invention includes systems and methodswhere multiple terms associated with business credit can be proposed byparties other than redeemers. The present invention includes systems andmethods that can affiliate credit with particular redeemers within acredit system (incorporating multiple redeemers). The present inventionincludes systems and methods that can exclude particular redeemerswithin a credit system from redeeming credit that may be redeemable withother redeemers utilizing the same credit system.

The present invention also provides a means where funds used to purchasebusiness credit (including expired business credit) can be disbursed tovarious and/or multiple parties (e.g., refunded to a purchaser).Furthermore, the present invention includes a secondary market, whereinauthorized presenters (e.g., a gift recipient) of business credit areprovided with a platform to electronically transfer (e.g., gift or sell)the same.

The present invention can also be licensed. A licensee can be grantedthe right to implement all or some of the embodiments of the presentinvention. The functionality provided by the present invention could beprovided wherein a licensee is, or is not the system provider. Thus, itcould appear (e.g., to a purchaser) that the functionality provided by aparty (e.g., a licensor), is provided by a different party (e.g., alicensee). Licensing fees could be paid to a licensor for rightsrelating to intellectual property, software, hardware, etc. Variousembodiments of the present invention can be licensed to one systemprovider, or licensed to multiple system providers. Furthermore, forexample, a single system provider could provide systems and methodsrelating to one aspect of the present invention (e.g., an exchange forthe buying and selling of business credit) while other aspects of theinvention (e.g., payment processing and/or the accounting and/ororganizing of business credit) are licensed (e.g., to marketingcompanies, multiple banks or a credit card company, etc.), as would beunderstood by someone skilled in the art.

Having thus described the present invention in detail, it is to beunderstood that the foregoing description is not intended to limit thespirit or scope thereof. Many of the embodiments of the presentinvention described herein are merely exemplary, and a person skilled inthe art may make many variations and modifications without departingfrom the spirit and scope of the invention. All such variations andmodifications are intended to be included within the scope of theinvention.

1. A system for the provision of store credit, comprising a providercomputer system hosting an electronic platform (a) configured to receivefrom a buyer computer system of a first party comprising a buyer arequest for a targeted store credit associated with parameters including(i) a parameter including at least one of a second party comprising asupplier and a product thereof, (ii) an amount of the targeted storecredit associated with redemption thereof, and (iii) a price less thanand for the amount of the targeted store credit, (b) configured to sendto a computer system designated by the buyer the targeted store creditwith the parameters including the second party, the amount associatedwith redemption, and the price for the store credit at the amountassociated with redemption, and (c) configured to associate the targetedstore credit with at least one seller for redemption of the targetedstore credit therewith.